Torchlight Energy Resources Inc. [NASDAQ: TRCH] loss -1.08% on the last trading session, reaching $2.75 price per share at the time. The company report on May 25, 2021 that Update on Proxy Solicitation for Special Meeting of Stockholders for Metamaterial Transaction.
Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (“Torchlight”), announced that stockholders representing 46% of the Torchlight shares eligible to vote at the special meeting to be held on June 11, 2021 in connection with the previously announced business combination transaction with Metamaterial, Inc. (the “Arrangement”) have already voted their shares. The record date for the special meeting was May 5, 2021 (the “Record Date”), and only stockholders of record as of the Record Date are entitled to vote at the special meeting. This announcement is a reminder that stockholders of record as of the Record Date who have received a control number can vote their shares online at www.proxyvote.com. Eligible stockholders can also vote by mail or by phone. Torchlight stockholders who hold their shares through a broker and have not received an email or other communication from their broker with information on how to vote their shares may contact their brokerage for that information.
Any questions on voting shares should be directed to Torchlight’ s proxy solicitation agent, D.F. King & Co., Inc., by telephone at 1 (800) 714 -3305 (toll-free in North America) or 1 (212) 269- 5550 (collect call outside North America), or by email at TRCH@dfking.com.
Torchlight Energy Resources Inc. represents 129.61 million in outstanding shares, while the company has a total market value of $402.00 million with the latest information. TRCH stock price has been found in the range of $2.63 to $2.85.
If compared to the average trading volume of 10.05M shares, TRCH reached a trading volume of 5519490 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Torchlight Energy Resources Inc. [TRCH]:
ROTH Capital have made an estimate for Torchlight Energy Resources Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 13, 2020.
The Average True Range (ATR) for Torchlight Energy Resources Inc. is set at 0.22, with the Price to Sales ratio for TRCH stock in the period of the last 12 months amounting to 4019.95. The Price to Book ratio for the last quarter was 6.40, with the Price to Cash per share for the same quarter was set at 0.09.
Trading performance analysis for TRCH stock
Torchlight Energy Resources Inc. [TRCH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.02. With this latest performance, TRCH shares gained by 37.50% in over the last four-week period, additionally plugging by 685.71% over the last 6 months – not to mention a rise of 676.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRCH stock in for the last two-week period is set at 70.69, with the RSI for the last a single of trading hit 78.25, and the three-weeks RSI is set at 64.94 for Torchlight Energy Resources Inc. [TRCH]. The present Moving Average for the last 50 days of trading for this stock 1.99, while it was recorded at 2.59 for the last single week of trading, and 1.24 for the last 200 days.
Torchlight Energy Resources Inc. [TRCH]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Torchlight Energy Resources Inc. [TRCH] shares currently have an operating margin of -2245.46 and a Gross Margin at -421.73. Torchlight Energy Resources Inc.’s Net Margin is presently recorded at -6609.76.
Return on Total Capital for TRCH is now -12.94, given the latest momentum, and Return on Invested Capital for the company is -45.54. Return on Equity for this stock declined to -92.26, with Return on Assets sitting at -34.87. When it comes to the capital structure of this company, Torchlight Energy Resources Inc. [TRCH] has a Total Debt to Total Equity ratio set at 130.91. Additionally, TRCH Total Debt to Total Capital is recorded at 56.69, with Total Debt to Total Assets ending up at 51.09. Long-Term Debt to Equity for the company is recorded at 130.91, with the Long-Term Debt to Total Capital now at 56.69.
Reflecting on the efficiency of the workforce at the company, Torchlight Energy Resources Inc. [TRCH] managed to generate an average of -$3,195,474 per employee. Receivables Turnover for the company is 0.48 with a Total Asset Turnover recorded at a value of 0.01.Torchlight Energy Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.10 and a Current Ratio set at 34.10.
An analysis of insider ownership at Torchlight Energy Resources Inc. [TRCH]
There are presently around $33 million, or 8.30% of TRCH stock, in the hands of institutional investors. The top three institutional holders of TRCH stocks are: VANGUARD GROUP INC with ownership of 5,191,248, which is approximately 71.538% of the company’s market cap and around 8.20% of the total institutional ownership; GMT CAPITAL CORP, holding 1,087,600 shares of the stock with an approximate value of $2.99 million in TRCH stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.63 million in TRCH stock with ownership of nearly 139.007% of the company’s market capitalization.
Positions in Torchlight Energy Resources Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 41 institutional holders increased their position in Torchlight Energy Resources Inc. [NASDAQ:TRCH] by around 6,661,307 shares. Additionally, 12 investors decreased positions by around 1,650,282 shares, while 6 investors held positions by with 3,775,185 shares. The mentioned changes placed institutional holdings at 12,086,774 shares, according to the latest SEC report filing. TRCH stock had 27 new institutional investments in for a total of 3,196,676 shares, while 6 institutional investors sold positions of 312,033 shares during the same period.